BTC Exposure is a free, open-source Bitcoin and MSTR portfolio tracker that aggregates your total BTC exposure across direct holdings, MSTR equity, spot Bitcoin ETFs, and Strategy preferreds — all in one dashboard. Your positions stay in your browser. There are no accounts, no cookies, no server-side storage.
Whether you hold a single MSTR share or a diversified Bitcoin stack across IBIT, FBTC, ARKB, BITB, STRK, and STRC, this tracker shows your effective BTC exposure in real time. It computes the metrics serious BTC and MSTR investors care about — mNAV, BTC per share, sats per share, implied $/BTC via MSTR, BTC torque, and long-term price projections.
Forward-looking models include Power Law (Santostasi), ARK Big Ideas 2030, Bitwise LTCM 2025, and VanEck 2050. A halving-cycle overlay shows how the current cycle compares to 2012, 2016, and 2020 post-halving periods. A custom price-target calculator lets you stress-test any BTC scenario against your full portfolio.
mNAV — multiple of net asset value — is the most-watched metric for Strategy (MSTR). The simple version divides MSTR's market capitalization by the dollar value of Bitcoin on its balance sheet. When mNAV is greater than 1, the market is paying a premium over the BTC NAV. When it's less than 1, MSTR trades at a discount to its underlying Bitcoin. The full or enterprise-value version of mNAV — which bitbo and SaylorTracker quote — adds Strategy's preferreds and convertible debt to the numerator. Both mNAV variants update live on this dashboard as MSTR and BTC prices move.
BTC torque is the leverage of MSTR's price movement relative to a one-percent move in spot Bitcoin. A higher torque means MSTR amplifies Bitcoin's moves — both up and down. Investors who want concentrated BTC exposure with additional upside (and risk) buy MSTR over spot. Investors who want lower volatility prefer direct BTC or spot Bitcoin ETFs (IBIT, FBTC, ARKB, BITB). This dashboard shows your portfolio's blended effective BTC exposure across all instruments, so you can see exactly how levered your stack is.
Strategy issues two perpetual preferred stocks that BTC-thesis investors use for yield with optionality. STRK ("Strike") is an 8% perpetual preferred with a conversion right into MSTR common at $1,000 per share — currently deep out-of-the-money but a floor on BTC torque if MSTR rallies. STRC ("Stretch") is a 9% perpetual with no conversion right; it behaves closer to fixed-income but is funded by Strategy's BTC-backed capital structure. Both trade on Nasdaq and are tracked live by this dashboard.
The dashboard is a static single-page app with a thin Vercel edge proxy that fetches public price data on your behalf. Your tickers and quantities live only in your browser's localStorage — they never reach any database. Read the privacy policy for details, the terms of use for the standard disclaimers, and the about page for the project background. The code is open source on GitHub if you want to audit, fork, or self-host.
Sats per share is the amount of Bitcoin (denominated in sats — 1 BTC = 100,000,000 sats) that each diluted MSTR share represents. It's Strategy CEO Michael Saylor's headline accretion KPI — when sats per share rises over time, MSTR's capital raises have been accretive to BTC ownership per share.
No. Your tickers, quantities, and account splits live only in your browser's localStorage. They never reach a database or server. The site fetches public price data through a thin proxy that never receives any portfolio information.
Yes — completely free, ad-free, and open source. The code is public on GitHub for anyone to audit, fork, or self-host.